Stock Market & Financial Investment News

Rackspace upgraded to Outperform from Market Perform at Raymond JamesRaymond James upgraded Rackspace citing yesterday's shares sell-off, organic growth, and views its as a solid leader in the cloud sector. Price target is $67.

Rackspace sees FY15 revenue $2B-$2.1B, consensus $2.08BSees FY15 revenue to grow between 14%-18% on a constant currency basis. Based on foreign currency movements to date, Rackspace anticipates a 200 basis point headwind to revenue growth for the full year of 2015, resulting in GAAP revenue in the range of $2.0B-$2.1B. The company expects adjusted EBITDA margins to be between 33%-36% for the year.